The Justin Williams and Ben Armstrong Crypto Dispute: What's Behind the Allegations?

The crypto industry has found itself embroiled in another controversy, this time centering on high-profile figures and serious accusations of financial misconduct. At the heart of the dispute is Ben Armstrong, the founder of BitBoy Crypto, who has made sweeping allegations against multiple industry participants, most prominently naming Justin Williams as a key figure in what he describes as an illicit financial scheme.

The Core Allegations: What Armstrong Claims About Justin Williams in Crypto

Armstrong, once known by the nickname “BitBoy,” recently took to social media to air his grievances, accusing several influential people—including Justin Williams—of orchestrating what he characterizes as a major money laundering operation. According to Armstrong’s claims, Justin Williams, who serves as CEO of the NFT marketplace Voomio and operates as a prominent NFT influencer, is central to these alleged activities.

Armstrong’s accusations extend beyond simple market manipulation. He suggests that Justin Williams has been involved in coordinated schemes to artificially move crypto markets and defraud participants. The allegations paint a picture of coordinated wrongdoing involving multiple industry insiders working in concert to profit at the expense of regular crypto investors.

The Broader Network: Who Else Is Implicated?

Armstrong names other figures he believes are part of this ecosystem, including Daniel Gouldman, founder and CEO of Ternio (a blockchain technology company), and Brian Evans, described as an online marketing specialist and NFT influencer. Armstrong alleges that these individuals, along with billionaire-level actors, have colluded to manipulate markets and conceal illicit activities. The narrative suggests a coordinated effort with Justin Williams playing an influential role in what Armstrong describes as orchestrating market dumps.

BEN Token’s Collapse: Crypto’s Market Reality

The conflict has had tangible consequences in the crypto market itself. BEN, a token launched by Armstrong, experienced a dramatic collapse, losing over 35% of its value in just one week at the time of the original reporting. At its low point, the token was trading at approximately $0.0000000314, representing a devastating 90% decline from its all-time high of $0.0000002725 established in May 2023. Armstrong attributes this crash to coordinated selling by former colleagues he believes are working against him.

Armstrong’s Fall from Grace: The BitBoy Crypto Controversy

Armstrong’s credibility in the industry had already been questioned following events in 2025. In August of that year, he was removed from BitBoy Crypto, the very company he founded and which became the vehicle for his rise to prominence. TJ Shedd, CEO of Hit Network (which owns BitBoy Crypto), announced Armstrong’s removal on a livestream, citing accusations of substance abuse and workplace misconduct.

Armstrong disputed these claims, asserting instead that TJ Shedd and Justin Williams had orchestrated what he termed “a coup” against him. This removal marked a significant turning point in his career, setting the stage for the subsequent conflicts and public allegations that would follow.

The Escalation: From Business Disputes to Criminal Involvement

The situation deteriorated further in September 2025, when Armstrong was arrested during a livestream confrontation with former business partner Carlos Diaz. The incident stemmed from Armstrong’s belief that Diaz had illegally obtained his Lamborghini. This public arrest brought additional scrutiny to Armstrong’s judgment and stability.

Recent months have also seen Armstrong’s personal life become tabloid fodder. He publicly revealed that his wife had filed for divorce and that he was involved with Cassandra Wolfe (known as @DuchessOfDuchessOfDeFi on social media), who previously worked as Director of Marketing and Strategic Partnerships at BitBoy Crypto. These revelations added another layer of complexity to his standing within the industry.

The Bigger Picture: What the Armstrong-Williams Conflict Reveals About Crypto

The dispute between Armstrong and Justin Williams, along with the other figures he’s named, reflects deeper tensions within the cryptocurrency industry. While Armstrong’s specific allegations remain contested, the case illustrates how personal grievances, market dynamics, and accusations of misconduct can intersect in this relatively young and less-regulated sector.

Whether Armstrong’s claims about money laundering activities and coordinated market manipulation hold merit remains unclear. However, the incident underscores the crypto industry’s ongoing struggles with transparency, accountability, and the outsized influence of charismatic personalities. The continued prominence of figures like Justin Williams in the ecosystem, despite such serious allegations, raises questions about regulatory oversight and industry standards in the digital asset space.